(VEN) - The Foreign Investment Agency of the Ministry of Planning and Investment announced that in 2011, 75 projects were licensed to invest in foreign countries and territories and 33 other projects were licensed to increase their investment capital abroad, with newly licensed and increased capital totaling US$2.12 billion.
Large Vietnamese projects in foreign countries and territories include the US$806 million, 400MW Ha Se San II hydroelectric project in Cambodia, Viettel's US$408 million telecommunications project in Peru, the US$275.2 million, 205MW Se Kong 3 hydroelectric project in Laos, Nam Cong 2 and 3 hydroelectric projects worth US$134.5 million in Laos, the Vietnam Rubber Group's US$53.7 million, 6,500 hectare rubber cultivation project in Cambodia.
According to data of businesses investing abroad, about US$950 million worth of Vietnamese capital was invested in foreign countries and territories in 2011. Of this, the Vietnam National Oil and Gas Group (PVN) invested US$347 million, Viettel invested about US$185 million, the Vietnam General Group US$134.6 million and the Song Da Holdings US$161 million.
The Foreign Investment Agency said that some of the above-mentioned projects have begun production and or trading activities and are running effectively, including Viettel's projects in Cambodia and Laos, the Dak Lak Rubber Company's rubber project and the Hoang Anh Gia Lai Group's rubber project.
Deputy Minister of Planning and Investment Nguyen The Phuong assessed that Vietnamese overseas investment in 2011 matched expectations. In 2011, Vietnamese overseas investment was mostly found in industry, energy and telecommunications in Laos, Cambodia and Myanmar and was highly efficient.
The Ministry of Planning and Investment worked with related ministries and sectors to organize activities for promoting Vietnamese investment in foreign countries and territories, including investment promotion conferences and meetings in Cambodia, Myanmar and Laos that were held following the visit of Vietnamese delegations to these countries. An agreement on investment promotion cooperation with Sri Lanka was signed on the occasion of the Vietnamese President's visit to this country./.
By Nguyen Hoa
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